Tag: Nigeria

Nigerian billionaire businessman Tony Elumelu.
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Nigerian billionaire Tony Elumelu’s Seplat stake tops $1 billion on share rally

Tony Elumelu’s Seplat stake tops $1 billion as shares surge, boosting valuation and reinforcing his influence in Africa’s energy sector.

Omokolade Ajayi Omokolade Ajayi
Nigerian billionaire Abdul Samad Rabiu
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Nigerian billionaire Abdul Samad Rabiu gains N2.7 trillion this week from BUA Cement shares

Nigerian billionaire Abdul Samad Rabiu gains N2.7 trillion ($1.95 billion) in a week as BUA Cement shares rally on strong earnings.

Omokolade Ajayi Omokolade Ajayi
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Seplat Energy’s Q1 2026 profit rises to $37.9 million on higher oil prices

Seplat Energy profit rises to $37.9 million in first quarter 2026 as higher oil prices and stronger output lift revenue to $840.7 million.

Omokolade Ajayi Omokolade Ajayi
GTCO logo represented as a modular corporate structure highlighting its diversified financial services group.
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GTCO’s Q1 profit slips to $158 million as valuation losses, higher taxes weigh on earnings

GTCO reports first-quarter profit of $158.6 million as valuation losses and higher taxes weigh on earnings despite revenue growth.

Omokolade Ajayi Omokolade Ajayi
Aliko Dangote, Africa’s richest man and founder of Dangote Group.
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Nigerian billionaire Aliko Dangote’s Dangote Cement posts $233 million profit in Q1 2026

Dangote Cement posts $233 million profit in Q1 2026, driven by stronger sales, higher volumes and cost control.

Omokolade Ajayi Omokolade Ajayi
Nigerian billionaire Abdul Samad Rabiu
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Nigerian billionaire Abdul Samad Rabiu’s BUA Foods posts $103 million Q1 profit

BUA Foods posts $103 million Q1 profit as Abdul Samad Rabiu’s group cuts costs, offsets weaker sales, and strengthens margins.

Omokolade Ajayi Omokolade Ajayi
Nigerian billionaire businessman Tony Elumelu.
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Tony Elumelu’s Transcorp posts Q1 profit above $27 million on hospitality gains

Transcorp, led by Tony Elumelu, posts N37.9 billion ($27.6 million) Q1 profit, with hospitality gains offsetting weaker power revenue.

Omokolade Ajayi Omokolade Ajayi
Aliko Dangote, Africa’s richest man
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Aliko Dangote becomes first African, first Black billionaire worth over $30 billion

Aliko Dangote becomes first African and first Black billionaire worth over 30 billion dollars, with net worth rising to $30.3 billion according to Forbes.

Omokolade Ajayi Omokolade Ajayi
UBA House Marina in Lagos, the headquarters of United Bank for Africa.
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UBA plans 2026 dividend return as loan recovery efforts gain pace

UBA targets 2026 dividend return as loan recoveries improve after a N331 billion ($241.3 million) provision hit 2025 profit.

Omokolade Ajayi Omokolade Ajayi
BusinessHot News

Transcorp Power posts $22 million Q1 profit, assets top $450 million

Transcorp Power posts N29.7 billion ($22 million) profit in Q1 2026 as gas shortages hit output, while assets rise above $450 million despite revenue pressure.

Omokolade Ajayi Omokolade Ajayi
One of UBA's branches, representing the bank’s retail banking network across its pan-African operations.
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UBA posts $591 million gross earnings in Q1 2026 as recovery gains pace

UBA reports $591 million gross earnings in Q1 2026. FX recovery, lower impairments, and rising deposits strengthen its financial position.

Omokolade Ajayi Omokolade Ajayi
UBA House Marina in Lagos, the headquarters of United Bank for Africa.
Hot NewsBusiness

UBA posts $2.4 billion gross earnings; Tony Elumelu raises stake

UBA reports $2.4 billion gross earnings in 2025 as Tony Elumelu increases his stake to 14.27 percent amid strong growth.

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